SYNLAIT MILK LIMITED (SM1)
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SM1 - SYNLAIT MILK LIMITED

FNArena Sector : Dairy
Year End: July
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 3.39
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.17

22 Sep
2023

0.030

OPEN

$1.16

2.63%

HIGH

$1.17

24,542

LOW

$1.16

TARGET
$1.90 62.4% upside
OTHER COMPANIES IN THE SAME SECTOR
A2M . BFC . BGA . BUB . FSF . NUC . NUC . TFL .
FNARENA'S MARKET CONSENSUS FORECASTS
SM1: 1
Title FY23
Forecast		 FY24
Forecast
EPS (cps) 1.2 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 100.3 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) 0.0% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx16.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,551.2 M
Book Value Per Share xxxxxxxxxxxxxxx307.7
Net Operating Cash Flow xxxxxxxxxxxxxxx193.4 M
Net Profit Margin xxxxxxxxxxxxxxx2.32 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx5.14 %
Return on Invested Capital xxxxxxxxxxxxxxx3.37 %
Return on Assets xxxxxxxxxxxxxxx2.42 %
Return on Equity xxxxxxxxxxxxxxx5.14 %
Return on Total Capital xxxxxxxxxxxxxxx4.57 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx140.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201720182019202020212022
Short-Term Debt xxxxxxxxxxxxxxx57 M
Long Term Debt xxxxxxxxxxxxxxx288 M
Total Debt xxxxxxxxxxxxxxx345 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx13 M
Price To Book Value xxxxxxxxxxxxxxx0.93

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201720182019202020212022
Capex xxxxxxxxxxxxxxx89.9 M
Capex % of Sales xxxxxxxxxxxxxxx5.80 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,421 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx79 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

-

xx.xx%

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UBS

27/04/2023

1

Buy

-

-

UBS reiterates its Buy call on Synlait Milk amidst a $20m profit warning, stressing the company is trading at a record -55% discount to book value.

The broker acknowledges FY23 has been a tough year, which the profit warning and production delays, but expects a big earnings recovery in FY25, as high-margin nutritional sale flows through.

While operating risks and debt remain high, likely limiting short-term gains, UBS appreciates the company's long-run pre-tax return on investment capital of more than 12%.

EPS forecasts fall sharply in FY23 and FY24 to reflect the company's profit warning. No dividends are forecast for FY23 or FY24.

Target price falls to NZ$3.95 from NZ$4.30.

FORECAST
UBS forecasts a full year FY23 dividend of 0.00 cents and EPS of 2.76 cents.
UBS forecasts a full year FY24 dividend of 0.00 cents and EPS of 13.82 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

SM1 STOCK CHART

FNArena News on SM1

1
Australian Broker Call *Extra* Edition – Sep 20, 2023

Sep 20 2023 - Daily Market Reports
2
Rudi’s View: Markets Weigh Plenty Of Positives, And Negatives

May 10 2023 - Rudi's View
3
Rudi’s View: Seeking Quality & Growth Offshore

May 03 2023 - Rudi's View
4
Australian Broker Call *Extra* Edition – May 02, 2023

May 02 2023 - Daily Market Reports
5
a2 Milk: Avoid

Apr 27 2023 - Technicals

Latest Dairy News

1
Treasure Chest: Bega Cheese

Oct 18 2022 - Treasure Chest
2
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
3
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
4
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
5
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
6
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia
7
Uncertainty Prevails For Synlait Milk

Sep 30 2020 - Small Caps
8
Daigou Drought Sours a2 Milk Outlook

Sep 29 2020 - Australia
9
Treasure Chest: Is a2 Milk In Danger?

Sep 10 2020 - Treasure Chest
10
a2 Milk Souring

Sep 02 2020 - Technicals